Kyndryl (NYSE:KD) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Kyndryl (NYSE:KD) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.

Several other brokerages have also recently issued reports on KD. BMO Capital Markets restated a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a report on Thursday, August 6th. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Kyndryl currently has an average rating of “Reduce” and an average price target of $16.50.

Kyndryl Price Performance

KD stock opened at $13.21 on Monday. The business has a 50 day moving average price of $12.91 and a 200 day moving average price of $12.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 35.72 and a beta of 1.64. Kyndryl has a fifty-two week low of $10.10 and a fifty-two week high of $32.30.

Kyndryl (NYSE:KD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the firm posted $0.37 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Equities research analysts anticipate that Kyndryl will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Kyndryl

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Kyndryl by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after purchasing an additional 63,846 shares during the period. Sound Shore Management Inc. CT boosted its stake in shares of Kyndryl by 46.1% during the fourth quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock worth $78,995,000 after buying an additional 939,154 shares during the period. Cooper Creek Partners Management LLC boosted its stake in shares of Kyndryl by 498.5% during the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after buying an additional 3,245,013 shares during the period. Royce & Associates LP grew its holdings in shares of Kyndryl by 10.8% during the fourth quarter. Royce & Associates LP now owns 1,917,036 shares of the company’s stock worth $50,916,000 after buying an additional 186,620 shares during the last quarter. Finally, Arnhold LLC grew its holdings in shares of Kyndryl by 18.6% during the fourth quarter. Arnhold LLC now owns 1,198,424 shares of the company’s stock worth $31,830,000 after buying an additional 187,753 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Company Profile

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.